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Contract Termination By Agreement Template for Belgium

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Key Requirements PROMPT example:

Contract Termination By Agreement

"I need a Contract Termination by Agreement for a software development agreement with our vendor, to be effective from March 1, 2025, including specific provisions for the handover of source code and ongoing maintenance support for 3 months after termination."

Document background
The Contract Termination By Agreement is utilized when parties mutually decide to end their contractual relationship under Belgian law. This document is essential when businesses want to formally and amicably conclude their obligations while managing potential risks and ensuring legal compliance. It becomes particularly relevant in situations involving long-term commercial relationships, service agreements, or complex business arrangements where a clean break is desired. The agreement must comply with Belgian Civil Code requirements, especially the modernized contract law provisions effective since 2023. It typically includes detailed provisions on final settlements, property returns, ongoing confidentiality obligations, and surviving provisions. This type of agreement is preferred over unilateral termination as it reduces the risk of disputes and provides clarity on post-termination responsibilities.
Suggested Sections

1. Parties: Identification of all contracting parties, including their full legal names, registered addresses, and company registration numbers if applicable

2. Background: Brief description of the original contract, its date, and the parties' mutual decision to terminate

3. Definitions: Definitions of key terms used in the termination agreement

4. Termination Date: Specific date when the original contract will terminate

5. Mutual Release: Mutual release of obligations under the original contract, subject to any surviving provisions

6. Settlement of Accounts: Agreement on final payments, reconciliation of accounts, and financial settlements

7. Return of Property: Obligations regarding the return of any physical or intellectual property

8. Confidentiality: Ongoing obligations regarding confidential information

9. Surviving Provisions: Identification of any provisions from the original contract that will survive termination

10. Governing Law: Confirmation of Belgian law as governing law and jurisdiction

11. Signatures: Execution blocks for all parties

Optional Sections

1. Non-Disparagement: Mutual agreement not to make negative statements about each other - typically used in high-profile or sensitive terminations

2. Employee Matters: Provisions dealing with transfer or treatment of employees - needed when the contract termination affects employment relationships

3. Intellectual Property Rights: Detailed provisions on IP ownership and licenses post-termination - required when IP is a significant aspect of the original contract

4. Tax Provisions: Specific tax-related provisions and allocations - needed when the termination has significant tax implications

5. Insurance and Indemnities: Provisions regarding ongoing insurance obligations and indemnities - relevant for contracts with potential future liabilities

6. Transition Assistance: Provisions for transitional support - needed when one party requires assistance after termination

7. Public Announcements: Protocol for public communications about the termination - relevant for public companies or high-profile contracts

Suggested Schedules

1. Schedule 1 - Original Contract: Copy of the original contract being terminated

2. Schedule 2 - Settlement Statement: Detailed breakdown of final financial settlements and payments

3. Schedule 3 - Property Inventory: List of physical and intellectual property to be returned or transferred

4. Schedule 4 - Surviving Obligations: Detailed list of obligations that survive termination

5. Schedule 5 - Transition Plan: If applicable, detailed plan for transitional arrangements

6. Appendix A - Required Corporate Approvals: Copies of board resolutions or other corporate approvals for the termination

7. Appendix B - Release Forms: Standard forms for mutual releases and waivers

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions






























Clauses






























Relevant Industries

Manufacturing

Technology

Professional Services

Retail

Financial Services

Construction

Healthcare

Energy

Telecommunications

Real Estate

Transportation

Media and Entertainment

Education

Agriculture

Hospitality

Relevant Teams

Legal

Procurement

Commercial

Finance

Operations

Compliance

Risk Management

Business Development

Contract Administration

Corporate Governance

Project Management

Relevant Roles

Legal Counsel

Contract Manager

Commercial Director

Chief Legal Officer

Business Development Manager

Procurement Manager

Chief Executive Officer

Chief Financial Officer

Operations Director

Risk Manager

Compliance Officer

General Counsel

Project Manager

Account Manager

Corporate Secretary

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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